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EV giant Tesla Inc. (NASDAQ:TSLA) is reportedly planning to produce a six-seat version of its Model Y SUV starting next year in China.
What Happened: The new variant of Tesla’s best-selling vehicle will be made at the company’s gigafactory in Shanghai starting late 2025, Reuters reported, citing two people familiar with the matter.
The company has asked its suppliers to plan for a double-digit increase in Model Y production in China, the report added.
Tesla did not immediately respond to Benzinga‘s request for confirmation of the report.
Why It Matters: Tesla started delivering Model Y in the U.S. in March 2020 and in China in January 2021. It is the latest mass-market offering from the company.
Tesla commenced deliveries of the Cybertruck last year but the stainless steel truck caters to a higher-end market with a starting price point of around $100,000 for the foundation series edition.
Tesla offers the option of a seven-seat interior in the U.S. While the five-seat interior is included in the starting price of the vehicle, the 7-seat interior costs an additional $2000.
However, in China, the vehicle is available only with five seats. The electric SUV starts at 249,900 yuan ($35,095) in China for its base version.
Check out more of Benzinga's Future Of Mobility coverage by following this link.
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Photo courtesy: Tesla
Posted In: TSLA
